Bold Ventures Announces Final Closing of Non-Brokered Private Placement and Insider Subscriptions
Bold Ventures Inc. (BOL: TSX.V) (the ‘Company’ or ‘Bold’) is pleased to announce that further to its press releases dated July 4, 2024, August 1, 2024, August 19, 2024, August 22, 2024 and September 19, 2024 it has completed the final tranche of a non-brokered private placement offering with the placement of 1,000,000 flow-through units (‘FT Units’) for aggregate gross proceeds of $50,000.00 (the ‘Final Closing’). The Company raised a total of $274,200 through the placement of 5,205,000 working capital units (‘WC Units’) and 1,320,000 FT Units
Each WC Unit consisted of one (1) Common Share and one (1) Common Share purchase warrant (a ‘WC Warrant‘). Each WC Warrant entitled the holder to purchase one (1) Common Share (a ‘WC Warrant Share‘) at a price of $0.06 per WC Warrant Share until the date that is three (3) years following closing.
Each FT Unit consists of one (1) flow-through common share, priced at $0.05, and one-half (0.5) of a common share purchase warrant. Each full warrant (a ‘Warrant’) entitles the holder to purchase one (1) common share (a ‘Warrant Share’) at a price of $0.10 per Warrant Share until two (2) years following closing. The proceeds from the sale of the FT Units will be used for exploration work that qualifies for Canadian Exploration Expenses (CEE).
The securities issued on the Final Closing are subject to a hold period expiring on February 19, 2025.
Insider Subscriptions
Two insiders subscribed for 1,000,000 FT Units of the Final Closing for proceeds of $50,000. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (‘MI 61-101‘) by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company issued to the insiders does not exceed 25% of its market capitalization.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold website here.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada.
Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.
‘Bruce A MacLachlan’ ‘David B Graham’
Bruce MacLachlan David Graham
President and COO CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words ‘may’, ‘would’, ‘could’, ‘will’, ‘intend’, ‘plan’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’ and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
SOURCE: Bold Ventures
View the original press release on accesswire.com
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